PROVIDENCE, R.I. (AP) — A small group of state lawmakers suggested Tuesday that Rhode Island should default on the money it owes for its failed investment in former Red Sox pitcher Curt Schilling’s bankrupt video game company.
The legislation introduced in the state House of Representatives would prohibit the state or its Economic Development Corp. from making payments connected to the EDC’s $75 million loan guarantee given to 38 Studios. The bill’s sponsor, Rep. Karen MacBeth, D-Cumberland, said the state has insurance on the bonds that will pay bond holders if the state defaults.
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.